SAN MATEO, Calif.--(BUSINESS WIRE)--Tipalti,
the leading global payables automation solution, today announced it has
closed a $30 million Series C financing round led by Zeev Ventures. This
brings the B2B fintech leader’s total funding to over $50 million, and
will help Tipalti widen its innovation edge and position as the
pacesetter in the accounts payable automation space.

“Tipalti’s near-perfect record of customer satisfaction and retention
rates throughout our history are emblematic of how much value our
service generates for our clients. By modernizing the finance operation,
we typically automate 80% of an organization’s AP and cross-border
payments workload, freeing the finance team to focus on mission-critical
initiatives, such as scaling their business globally and improving their
company’s competitiveness and profitability,” said Chen Amit, CEO and
Co-founder of Tipalti. “This funding round enables us to continue our
track record of innovation to transform the entire accounts payable
operation.”

Tipalti’s cloud-based payables automation platform helps modern CFOs
scale payable operations for rapid and global growth by eliminating the
risks and inefficiencies caused by complex, manual legacy accounts
payable processes. Tipalti already processes over $4 billion in
transactions annually across almost 2 million global suppliers. The
fintech company will use the additional funding to help its fast-growing
customer base modernize their AP operations: accelerating Tipalti’s
product innovation and leadership position, while maintaining its
industry-leading customer satisfaction and retention record.

“It was a relatively easy decision to continue investing in Tipalti. It
is extremely rare to have the opportunity to invest in a category
leader. Tipalti is really changing the way B2B payments are being done,
helping companies manage their cross-border payment, supplier, and
compliance operations,” said Oren Zeev, the Founding Partner of Zeev
Ventures and Chairman and Co-founder of Tipalti. “When you talk to
Tipalti’s clients like Amazon, GoDaddy, Indeed, Roku, and Twitter, or
read the company’s 5-star reviews, the consensus is that businesses
around the globe love using Tipalti to drive their AP transformation and
support their growth.”

“Tipalti’s success comes from its vision and team, recognizing how
financial technology can be used to solve what was once an unsolvable
scalability and compliance issue,” continued Oren, who was recently
named one of the world’s top investors by Forbes. “It is quite clear
that it’s time for the payables operation to take advantage of
automation. Organizations should not be running finance operations
manually, but rather automate this workflow to reduce short and
long-term risk and costs and ultimately free resources for high value
initiatives. Tipalti is extremely well positioned to take advantage of
this movement. Tipalti has only scratched the surface of what we’ve
determined to be a $90 billion global market.”

Amit concluded: “As organizations mature, accelerate growth, and go
global, manual payments and accounts payables processes no longer scale.
There is simply no way that the CFO of the future will continue spending
a huge proportion of their team’s time and resources manually managing
B2B payment operations, introducing risk into their organization at
every step along the way. This is the problem that Tipalti uniquely
solves, and our dedication to transforming AP is what will fuel our
ongoing success.”